Proactiveinvestors recommends
Additional Information
Market: LSE, ASX
Sector: General Mining - Platinum Group Metals
EPIC: AQP
1 year chart
digital-look imported chart image
Deal AQP Tax Free*
*subject to change and depends on individual circumstances.
1 day chart
digital-look imported chart image
Advertisement
Watchlist/Portfolio

Add to watchlist:

Only registered members can add into watchlist !

Register here !
Aquarius Platinum
www.aquariusplatinum.com
Deal Aquarius Platinum Tax Free* Losses can exceed
your initial deposit *subject to change and depends on individual circumstances.
With four mines and a chrome tailings retreatment project in production, Aquarius Platinum has evolved into the world’s fourth largest primary platinum producer. The company’s operations are located in Southern Africa, home to over 80% of the world’s platinum reserves.
Full Aquarius Platinum profile here
Pdf

Aquarius Platinum completes acquisition of Ridge Mining, slides on Q4 production report

July 31 2009, 1:41pm Aquarius Platinum completes acquisition of Ridge Mining, slides on Q4 production report


South African focused platinum miner and FTSE 250 constituent, Aquarius Platinum (LSE: AQP), reported a slight production increase in the past quarter (Q4), but failed to benefit from higher commodity prices owing to the stronger rand to US dollar exchange rate.


In its Q4 report released today the company said it was able to improve quarterly attributable production to 98,258 PGM (Platinum Group Metal) ounces, a 1% increase from the previous quarter.

Global commodity prices also grew, but Aquarius failed to benefit from this, saying the changes in prices were offset by a stronger exchange rate of the South African rand to US dollar.


Aquarius also included updates on its projects, reporting that its Wezda Phase 5.5 expansion at the Mimosa plant in Zimbabwe is complete, and the expansion at Platinum Mile nears completion.


Apart from upping production, the company has also been able to refinance. Aquarius raised USD 270 million through equity placement, rights issue and convertible bond during the quarter.


The company simultaneously announced it has finalised the acquisition of Ridge Mining and is now focusing on integrating its asset, primarily the Blue Ridge Mine, into the Aquarius Group, looking to further boost production growth.


"I am delighted that we have now concluded the transaction with Ridge. In the Aquarius portfolio, the Blue Ridge Mine and Sheba's Ridge Project will benefit from our experience and skills, and provide both production growth and optionality for the enlarged group as a whole,” said CEO Stuart Murray.

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.